Here’s the skinny on the MBA job market, according to Businessweek, which cites recent MBA Career Service Council data: Things pretty much stink and are worse than last year. Of the 70 schools surveyed by the MBA CSC, 51 percent reported increases of on-campus recruitment (down from 76 percent last year), just 69 percent said that job postings were up over last year (a figure down from 86 percent in 2011) and full-time job offers were offered to 75 percent of the graduating class from both this and last year's.
“Interestingly, lower-ranked schools were more likely to have increases in both on-campus recruiting and job postings—maybe salary dollars go a little further at second- and third-tier schools,” the magazine wrote.
Bright spots include a small jump in internships offered, and improved recruitment in manufacturing, media, real estate and technology. Otherwise, good luck.
GE is considering breaking off chunks of its lending business, responding to investors' concerns about the risks of the financial sector. [WSJ]
Silicon Valley Bank will open a UK branch to service start-ups there. [Financial Times]
The State Department expects to issue a record 6,000 investor visas this year. [CNN Money]
Banks aim to boost their images by backing green tech firms. [NY Times]
The Family Office Exchange created a preferred-provider list of 30 wealth managers. [Investment News]
Banks, bond issuers and investors are bracing the U.S. bank downgrades expected this week. [WSJ]
UBS blames Nasdaq for its $350 million Facebook loss. [Dow Jones]
Nordic private equity firm EQT Partners will buy the German medical supplies company BSN Medical for $2.26 billion. [DealBook]
Canada’s Sun Life Financial is planning an aggressive expansion in Asia. [Financial Times]